(MENAFN- GlobeNewsWire - Nasdaq) New Delhi, April 26, 2023 (GLOBE NEWSWIRE) -- Global 3D printing materials market is flourishing because of an increasing demand for customized products and personalized medical devices, the manufacturing industry's growing focus on sustainability and eco-friendly materials, high adoption of 3D printing technology in product design and development, and advancements in materials and technology that have led to more efficient and cost-effective 3D printing processes.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global 3d printing materials market size at USD 2.1 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global 3D printing materials market size to grow at a robust CAGR of 17.6% reaching a value of USD 6.51 billion by 2029. Major growth drivers for global 3D printing materials market include an increasing need for polymers in 3D printing, a rising demand for mass customization, and government initiatives to encourage and facilitate the adoption of 3D printing. The global 3D printing market is expected to further expand due to the rising demand for 3D printing, as well as the increased demand for better quality materials in various industries such as automotive and aerospace. Also, the use of 3D printing reduces the risk of errors and is highly advantageous for production, leading to an increase in market growth during the forecast period. However, high cost of 3D printing materials, equipment, and maintenance and limited availability of high-quality and specialized 3D printing materials are anticipated to restrain the market growth during the period in analysis.
Global 3D Printing Materials Market - Overview
3D printing, also known as additive manufacturing, is a process that produces an object in three dimensions using 3D printing materials. Initially, simple thermoplastics and wax were used for 3D printing, but now, diverse materials in powder, liquid, and filament form are widely used. The automotive industry can drive market growth in the future by using technologies such as Fused Filament Fabrication (FFF) to create prototypes and end-use components. 3D printing materials and equipment allow speedy prototyping and find their end-users in creating molds, grips, and fixtures. The increasing demand for 3D printing from the aerospace and defense industries will drive 3D printing materials and equipment market share. It offers flexibility in product design and helps in producing highly detailed and sleek models.
Sample Request @
Impact of COVID-19 on Global 3D Printing Materials Market
COVID-19 adversely affected the global economy and caused uncertainty in all industries, including the 3D printing materials market. However, the healthcare sector experienced a surge in demand for medical equipment and devices required for COVID-19 treatment. This increased demand for medical equipment and personal protective equipment created opportunities for 3D printing companies globally. PLA and PETG materials were predominantly used to produce face shields due to their high resistance to temperature and weather conditions, contributing to the growing demand for 3D printing materials worldwide. In 2021, the global 3D printing materials market recovered due to the rising demand from the healthcare and industrial sectors worldwide. Hospitals and healthcare organizations are increasingly seeking environmentally friendly printing materials and 3D printers to produce critical equipment.
Please Visit the Press Release:
Global 3D Printing Materials Market – By Type
By type, the global 3D printing materials market is divided into Plastics, Metals, and Ceramics segments. The plastic type segment held the highest share in the global 3D printing materials market due to several factors. Plastic is a widely available and affordable material, making it a popular choice for 3D printing. Additionally, plastics offer a wide range of properties that make them suitable for various applications. For example, ABS (Acrylonitrile Butadiene Styrene) is commonly used for prototyping and functional parts due to its durability and resistance to impact. PLA (Polylactic Acid) is another popular plastic used in 3D printing due to its biodegradability and sustainability. Furthermore, advancements in 3D printing technology have made it possible to produce high quality plastic parts with complex geometries and intricate details, making it a preferred choice for a wide range of industries.
Competitive Landscape
Major players operating in the global 3D printing materials market include Stratasys, 3D Systems, Arkema, Royal DSM, EOS GmbH, Materialise NV, Evonik Industries AG, SABIC, BASF SE, CRP Technology Srl, EnvisionTEC, Solvay SA, HP Inc., Carbon Inc., and Dow Chemical Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
don't miss the business opportunity in the global 3d printing materials market . consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global 3D Printing Materials Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global 3D Printing Materials Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Scope of the Report
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Tags 3d printing materials market printing material market size printing material market share 3d printing materials forecast Related Links